FRANKFURT Dec 30 China's Midea said
it will complete the purchase of German robotics maker KUKA
in the first half of January after authorities in the
United States gave the takeover the green light.
"The United States government authorities Committee on
Foreign Investment in the United States and the Directorate of
Defense Trade Controls on December 29, 2016 have cleared the
takeover of Kuka," KUKA said in a separate statement on Friday.
As a result, all the conditions for closing the tender offer
have been met and the settlement of the deal can be expected in
the first half of January, Midea said.
Midea will control a 94.55 percent voting stake in KUKA
after the takeover offer is executed.
(Reporting by Edward Taylor; Editing by Tina Bellon)